If you are a landlord or if you are inspiring to be a landlord you might be interested in knowing where the most profitable places in the country are to own properties. The reality of the fact is that as a landlord you options are endless but as a renter you will find that no matter where you are in the country the cost of rent is through the roof and getting more expensive everyday. However if you are a landlord you might find that owning a home and renting it out is a great way to make some extra money while at the same time building equity in the homes.
According to propertysnake.org there are ten top places for landlords to own a rental property. You will soon see that the markets where these are located are not the greatest but they are in metro areas where an investor who is not in a large market can plan on making a good profit every month.
Memphis, Tennessee
Located in Tennessee, Memphis is a booming community with plenty of things for a resident can do. It is also a good area for local tourism. Rent is not extremely expensive in Memphis, in fact according to Zillow there is one rental that has had a renter in there for fifteen years and the rent that is being paid is $1000. This is an extra amount of income of about $600 per month when compared to the mortgage amount for this residence.
Indiana
If you are looking to be a landlord in Indiana you will be happy with your results. There are many homes for sale in the state and especially throughout Indianapolis. The market in Indiana is very active and there are plenty of single-family homes as well as other types of homes that are available. There are also plenty of renters who are looking for places to live.
Dallas- Fort Worth, Texas
If you are a landlord looking for a large variety of real estate meaning different types of real estate. Texas has a large variety including anything from a large mansion to a small apartment and anything in between.
‘Tampa, Florida
The housing market throughout Tampa, Florida is not very strong at the moment. In fact it is what is known as a soft housing market. What this means, as a landlord is that you are able to purchase a property to use as an investment property for a small amount and will be able to rent it out for more than your monthly payment.
Rochester, New York
The cost of living in Rochester, New York might be more expensive than living in other places throughout the country but it is a wonderful place to own an investment property and there are many smaller homes that will work perfectly as a rental home.
Denver, Colorado
Living in the city of Denver, Colorado might be a little more expensive than other places throughout Colorado but you will get good quality for you money. Many rental units are on upper floors and come with high-end quality.
Cincinnati, Ohio
Within the city of Cincinnati you can find a home that may need to be fixed up but you can get it at a really good price. This will give you the availability to fix it up and rent it out for much more money per month than your monthly payment.
Tulsa, Oklahoma
The homes that can be found for purchase in Tulsa are always a good bargain. Some even have the attic in the garage that can be used for extra storage and as an investment property you might find that the price of the houses are not too high.
Miami- Fort Lauderdale, Florida
If you are looking for a rental property that will earn you money Miami- Fort Lauderdale in Florida is probably the best place for you. The rent that is being charged is rising every day and is growing faster than anywhere else in the country.
Oklahoma City, Oklahoma
Finally the other place that is known as the best place for landlords is in Oklahoma City, Oklahoma. Within this city you can rent out a three bedrooms and two-bathroom home for around $250 more per month than what your monthly mortgage payment is.
Image credits to (thinkpanama)
